Bulls' Jimmy Butler thinking long term with wanting shorter-term deal

After originally expressing hesitation over signing the Bulls' five-year, roughly $90 million maximum offer, Jimmy Butler is finding the option more appealing with a player option for the final season, sources said.

NBA free agency began at 11:01 p.m. Tuesday. Butler is a restricted free agent, meaning the Bulls can match any offer sheet he signs. His desire in any deal he signs is is to take advantage quicker of the changing financial landscape once the NBA's new TV deal kicks in next summer. Thus, the desire for a player option in the final season.

Ideally, Butler is seeking a three-year maximum deal with a player option for a fourth season, sources said. That deal would be worth roughly $51 million, although that total could be more lucrative if the salary cap projections come in higher once the NBA concludes its annual audit in about a week.

Several teams, including the Lakers, Celtics and Mavericks, have expressed interest in meeting with Butler despite his restricted status. For now, those meetings are on hold. But if the Bulls don't offer a player option, Butler could take a free-agency tour, sources said.

The Bulls would match any offer sheet Butler signed. By virtue of their maximum qualifying offer, any such offer sheet would have to be for a minimum of three years with no options.

Butler's stance shouldn't surprise because he turned down a four-year, $44 million extension in October and cashed in by becoming a first-time All-Star and winning the league's Most Improved Player award. Butler would have signed for four years and $48 million, sources said then.

Butler has worked out this offseason at the Advocate Center. He has talked to new coach Fred Hoiberg. And in the Bulls' contacts with Butler, they have had no indication he wants to be elsewhere.

The Lakers introduced themselves to LaMarcus Aldridge the moment free agency began Tuesday night, hoping to sign that still-elusive free-agent big man after being rebuffed the previous two summers.

The Bulls would prefer to lock up Butler long term before the salary cap spikes in 2016-17 with the infusion of TV money. But they also can ill afford to alienate Butler, given they proactively traded away Luol Deng to avoid a luxury tax replacement and, as Deng's replacement, Butler has grown into a primary scorer while shouldering the heaviest defensive load.

Otherwise, the Bulls' free-agency plans remained transparent. They planned a strong initial offer to Mike Dunleavy to return as the starting small forward. ESPN.com reported that LeBron James has indicated a desire for the Cavaliers to pursue Dunleavy.

The Bulls expected Dunleavy to draw interest and are prepared to bid aggressively for him. They know he turned down more lucrative offers to sign a two-year, $6.5 million deal with the Bulls in July 2013.